Office of Investment Management

Sample Letter for DTC Transfer

Important: call the Investment Management Office for Account Information

June 11, 1997

Mr. John West
Merrill Lynch Pierce Fenner & Smith
100 Wall Street
New York, NY 10012

Dear John:

Please transfer by DTC, as of today, 100 shares of IBM Corp. common stock from my account number________________, as follows:

DTC Number: ACCOUNT OF: FURTHER CREDIT TO: CONTACT PERSON:

226 Fidelity Investments Pepperdine University Gift Account Account No. - 151-043079 John Lowrey (800) 248-2885

This will constitute a gift to Pepperdine University for the benefit of ___________________. Please contact Faye Holton in the Investment Management Office at (310) 506-4710.

Thank you for your assistance.

Sincerely,

Donor name

cc: Pepperdine University Advancement

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